1.Weltin Industrial Gas Corporation supplies acetylene and other compressed gases to industry. Data regarding the store's operations follow:

Sales are budgeted at $390,000 for November, $370,000 for December, and $380,000 for January.

Collections are expected to be 90% in the month of sale, 5% in the month following the sale, and 5% uncollectible.

The cost of goods sold is 60% of sales.

The company purchases 70% of its merchandise in the month prior to the month of sale and 30% in the month of sale. Payment for merchandise is made in the month following the purchase.

Other monthly expenses to be paid in cash are $21,800.

Monthly depreciation is $18,000.

Ignore taxes.

Statement of Financial Position October 31 Assets Cash. S 25.000 Accounts receivable ( net of allowance for uncollectible accounts) 71,000 Inventory ..... 163,800 Property, plant and equipment (net of $504.000 accumulated depreciation). 1.088.000 Total assets ... $1,347.800 Liabilities and Stockholders Equity Accounts payable ...... $ 232,000 Common stock 700.000 Retained earnings.....mmmmmm 415.800 Total liabilities and stockholders equity ... $1.347,800